Conversion of Convertible 1 An extra general meeti

An extra general meeting in Shelton Petroleum AB on 22 August 2013 resolved to issue two convertible debentures amounting to approximately SEK 215 million to Petrogrand AB. The debentures were subscribed and paid for in September and conversion has now been requested of Convertible 1. Convertible 1 amount to SEK 30 million and in relation to the conversion 1,500,000 new B-shares will be issued. Following the conversion the total number of shares will amount to 12,140,588, of which 170,580 are A-shares and 11,970,008 are B-shares, and the total number of votes will amount to 13,675,808. Convertible 2, which amounts to approximately SEK 185 million, is conditional on upon certain events that could create significant value for the shareholders of Shelton Petroleum. For more information, please contact: Robert Karlsson, CEO, Shelton Petroleum, +46 709 565 141 robert.karlsson@sheltonpetroleum.com www.sheltonpetroleum.com   About Shelton Petroleum Shelton Petroleum is a Swedish company focused on exploring and developing concessions in Russia and the resource-rich basins of Ukraine. In Russia, the company holds three licenses in the Volga-Urals area in Bashkiria and has commenced production on the Rustamovskoye field after a successful exploration program. In Ukraine, Shelton Petroleum’s wholly owned subsidiary has a joint venture with Ukrnafta and Chornomornaftogaz, two leading Ukrainian oil and gas companies. The Shelton Petroleum share is traded on NASDAQ OMX Stockholm under the under the symbol SHEL B.